Yesterday’s news regarding one Thailand property developer joining forces with Thailand Elite to offer a 20-year visa for foreign buyers at its Pattaya condominium resulted in a number of comments from readers.
Southpoint Pattaya (the showroom is pictured) is understood to be the first property in Thailand that offers a 20-year visa along with a property purchase – something that has been a major stumbling block for overseas property buyers with no business, family or retirement intentions.
To clarify the offering, Nigel Cornick, Chief Executive Officer of Kingdom Property, developer of Southpoint Pattaya, told DDproperty.com: “The deal is clear, Our entry level is around THB3 million including the visa and there are no annual fees to pay.”
He added that his company has negotiated the package with Thailand Elite, and while the details of the agreement remain confidential, Cornick confirmed that should a buyer wish to add another person to the card there will be an extra THB500,000 to pay to Thailand Elite.
He also clarified that the additional person must appear on the title deed for the property.
“Any buyer is free to look at the other offerings from Thailand Elite and make their own decision regarding the benefits of our product,” he concluded.
Andrew Batt, International Group Editor of PropertyGuru Group, wrote this story. To contact him about this or other stories email andrew@propertyguru.com.sg
